At its Cabinet session Thursday, the Armenian government approved the ratification of the agreement on financial cooperation for 2022 with the German government—and which was signed on August 16.
In the explanation of the respective decision, it is stated that this agreement envisages providing a loan of up to 12 million euros to Armenia from Germany for the implementation of the Expansion of Renewable Energy and Energy Saving: Phase III project, as well as providing additional grants, if necessary, for the preparation of the programs noted in Article 1 of this agreement, or for necessary related measures.
The agreement is a framework agreement under which separate funding or loan agreements are planned to be signed in the future.
